Expert NRI Lawyers for Buying and Selling Property
Property has different meaning for different people. For some it is an asset they cherish and pass on to their future generations, to some it is a mean of investment whereas to others it may be a source of income and wealth growth. Whatever is your need, at LexLords Estate Management services, we promise to serve you the best.
Buying or Selling in itself is a complicated and cumbersome procedure, and is more so in the case of NRI’s and PIO’s, for they are not well versed with the law of land and usually are short on time. It is often seen that middlemen take advantage of this in misleading them and dupe them of their hard earned money. To avoid any such situation, it is always advisable to avail the services of NRI lawyers for buying and selling property. The vast experience and expertise of NRI lawyers for buying and selling property will not only help in avoiding unpleasant situations but will also get you the best of the deals and save your time. The lawyers work in concurrence with you to offer you the solution best suited to your individual requirement.
Property Sale and Purchase
Sale and purchase is a legal contract requiring a lot of paperwork and other legal formalities, that demands expert knowledge. NRI lawyers for buying and selling property will offer you that expertise, helping you comprehend the legal jargon and other implications, including your rights and duties. As your lawyers, the only concern NRI lawyers for buying and selling property have is to secure a deal that is safe and profitable deal for you, both legally and financially. Once you hire our services, our team of experienced NRI Lawyers for Buying and Selling property will assist you through the entire procedure of Sale or Purchase.
Transfer of property comprises of various steps, typical of which are enlisted below:
- Brokerage Contract – A brokerage contract is made when an interested party hires a real-estate agent or broker for buying/selling property. Brokers/ Real-Estate agents charge a commission for their services, based on the transfer value. In India, brokerage contract can be written or oral though we would advise against oral contracts. NRI Lawyers for Buying and Selling property will make sure that contract terms are up to the mark and legally sound, to help you avoid any future hassle.
- Property Search – Once the brokerage contract is finalised, the next step is of finalising the right property in case of purchase and buyer in case of sale.
- Title Search – In case of a purchase, Title Search is a must to ensure the smooth transfer. Title Search essentially means to establish the legal right of the seller on the property, to make sure that he is legally allowed to sell the property. Title search also looks into the past owners of the property; it makes sure that there is no dispute or litigation regarding the property and that the property can be sold legally. Title search is conducted by legal professionals or qualified title searchers. Having hired our team of NRI Lawyers for Buying and Selling property, we will ensure that a proper research is conducted of past 33 years of the possession of the property in question, to eliminate any legal or financial loopholes.
- Sale/Purchase Agreement – Sale/Purchase Agreement is the document enlisting all the terms and conditions of the sale/purchase. The whole deal is based on this document and thus it must be duly checked and verified by the expert. Our NRI Lawyers for Buying and Selling property will guide you through the terms and conditions and their legal implications. The purchase agreement needs to have certain clarifications about the property, such as:
a) Whether the property has been altered or not? If yes, were the alterations lawfully acceptable?
b) Is the buyer allowed to make changes to the property? Or what are changes that are lawfully allowed to be made to the property?
c) Is the construction of the property sound and upto the standards? What measures will be taken if the structure turns out to be not of standard?
d) what will happen if the closing deal does not take place, i.e the final sale doesn’t take place? What will happen to the down payment in such a case?
These are some of the queries that a Sale/Purchase Agreement needs to specify for future references. And it is the duty of NRI lawyers for buying and selling property to make sure all important clauses are present in the agreement. Moreover, he will help you set the terms on mutually beneficially grounds.
- Property Transfer – This is the final and the most important stage of any Sale and Purchase process. The title of the property is finally transferred to the buyer and the closing amount is being transferred to the seller according to the sale/purchase agreement signed. Deed document is signed and our NRI lawyers for buying and selling property will go through the deed agreement making sure that everything is in the place and are appropriately executed. Our team of NRI lawyers for buying and selling property will also make sure that the title ownership is updated with the property registrar.
Transfer procedure is an extremely complicated and legal process, which needs the expertise and experience that our NRI lawyers for buying and selling property can offer you. Their expertise will make the whole procedure smoother and easier.
At LexLords Estate Management services, we are a team of expert NRI lawyers for buying and selling property, with a vast experience in dealing with Sale and Purchase of property for NRI’s, PIO’s and lease agreements for Foreign Nationals. Our team of NRI lawyers for buying and selling property pay attention to even the minutest of the details and make sure that the contract is based on the legally sound terms and that the execution is carried on properly.